General Ledger Accountant

General Ledger Accountant

Primary Duties

As a part of the FC&R General Ledger team, the General Ledger Accountant is responsible for ensuring the accuracy and compliance of financial data in accordance with international accounting standards and Richemont policies. A key focus of the role is analyzing and interpreting financial information in conjunction with Richemont Functions and Maisons to support the performance and position of the company. The General Ledger Accountant will support the monthly closing process across multiple areas as part of a collaborative team and work to continually improve the efficiency of processes and practices.

The primary duties of the position include:

• Ensuring financial information is accurate and complies with IFRS, KSA regulatory standards and Richemont’s financial policies and  procedures.
• Conducting reviews of general ledger accounts to verify the accuracy of financial information, providing assurance that the accounting practices adhere to regulations, and perform general ledger account reconciliations.
• Posting general ledger entries that have been reviewed and verified and include supporting information.
• Entering financial data into general ledger accounts on a monthly basis, and preparing reports that support the decision making processes of Maisons and Functions.
• Continually reviewing processes and procedures to identify improvements and advances that increase processing efficiency and the controls in place to minimize risk.

Key Responsibilities

The below responsibilities are allocated across the General Leader Team.

1. General Ledger

• Work closely with Maisons and Functions to gather, analyses and interpret financial information and where appropriate provide insights that aid Maisons and Functions decision making.
• Analyze general ledger accounts, calculate accruals in compliance with IFRS and Richemont’s financial policies and procedures, ensuring all entries are booked withing the target dates for reporting. 
• Update, review and reconcile general ledger accounts in accordance with Richemont’s Balance Sheet Schedule, identifying and investigating variances and outstanding items.
• Prepare and post entries for prepayments, and accruals working closely with Maisons and the Financial Planning and Analysis team to ensure information is accurate and up to date.
• Keep detail records and supporting documents for all entries, properly filed in the Finance document storage system.
• Perform vendor statement of accounts reconciliation as required.
• Review open purchase orders and invoices awaiting approval and work closely with the Accounts Payable and Procurement Team to resolve aged items.
• Prepare bank reconciliation schedules, identify and investigate variances for correcting.
• Run depreciation and create fixed assets reports monthly including the CAPEX Management Report

2. Lease Accounting and Reporting

• Maintain and update lease agreements, working closing with the Richemont Real Estates function to ensure SAP data is correct and in line with IFRS 16 standard
• Perform monthly valuation run and post related adjusting entries and ensure appropriate reporting in BCS
• Coordinate and raise technical issues encountered with the appropriate department

3. ERP Masterdata Management

• Maintenance of vendor workflow data
• Concur administration
• Quarterly Concur profiles review and clean-up
• Generate Concur accruals and review corporate cards to be blocked or cancelled

4. Audit and Internal Control

• Support and assist with internal and external audits as required, and implement any recommendations to improve procedures and processes.
• Undertake as required by the ICS team regular tests of controls with adequate supporting documentation to demonstrate compliance.
• Perform balance confirmations on selected accounts and check in line with internal control requirements

5. Key Stakeholders 

• Accounts Payable, Accounts Receivable and Credit Control, Tax & Treasury, Reporting & ICS
• Financial Planning and Analysis
• Richemont Functions
• Maisons

Key Requirements

Education

• B.Com/ Finance Graduate, accounting certification and professional qualification is an advantage

Experience

• A minimum of 5 years of proven experience in finance and accounting, with at least 2 years’ experience in general ledger accounting, audit experience is an advantage
• Experience with the retail industry would be an advantage

Technical skills / abilities

• Strong Accounting background
• Knowledge of computerized accounting system – especially SAP
• Knowledge of International Accounting Standards / IFRS
• Good knowledge of KSA VAT  regulations
• Excellent knowledge of Microsoft software (Teams, SharePoint and other applications)

Personal skills / qualities

• Excellent analytical and problem-solving skills
• Exceptional attention to detail.
• Demonstrated collaboration and communication skills, in a diverse and complex environment.
• The ability to plan and manage time-and organize multiple tasks while adhering to deadlines.
• Demonstrated compliance competences, particularly related to accounting standards and polices.
• High level of personal integrity, and a proven ability to managed confidential information
• Ability to work independently

Work Environment & Culture

Richemont is offering you a great opportunity to work in a reputable and professional leading Company in the Luxury Industry.

Become a part of a Creative, Ambitious & Diverse team, and take your decisive step towards your career development within our organization.

Richemont is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. It is a family-spirited Group, enabling its Maisons and businesses to grow while staying true to their heritage and owns several of the world’s leading companies in the field of luxury goods, with particular strengths in jewelry, luxury watches and writing instruments.

At Richemont, our true power does not lie in our similarities but in the rich diversity of our arts, cultures, and human skills, as well as our specific ability to foster untapped potential.

Quite simply, at Richemont you have the potential to be much more than your job title!